FS Energy unit gets $425 million loan due 2019 at Libor plus 372 bps

By Susanna Moon

Chicago, April 25 – FS Energy and Power Fund refinanced its repurchase facility with a $425 million senior secured loan due Sept. 15, 2019, according to an 8-K filing with the Securities and Exchange Commission.

The company’s wholly owned special-purpose financing subsidiary Gladwyne Funding LLC entered into the loan on April 19 with Goldman Sachs Bank USA as lead arranger and administrative agent.

Interest on the loan is Libor plus 372 basis points.

Goldman Sachs advanced $325 million to Gladwyne with a 60-day availability period for Gladwyne to borrow another $100 million.

Citibank, NA is the collateral agent, and Virtus Group, LP is the collateral administrator.

FS Energy is a Philadelphia-based investment company that invests primarily in income-oriented securities of privately held energy- and power-related companies.

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